guna@fastura.com

Manufacturing PMI increases to 56.4 in March as supply chain concerns ease.

The Purchasing Managers’ Index (PMI) for manufacturing increased to 56.4 in March from 55.3 in February, indicating that the manufacturing sector concluded fiscal 2022­–23 at its peak. Unfortunately, little progress was made on the job front, per the S&P Global monthly survey, which was released on Monday. Pollyanna De Lima, Economics Associate Director, S&P Global…

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Core industry improved by 6% in February.

Eight core industries’ combined output increased by 6% in February as compared to 5.9% in the same month last year. It’s interesting to note that the Commerce and Industry Ministry increased the core sector growth estimate for January 2023 from 7.8 to 8.9 percent. An official statement stated that the core industries’ overall growth rate from…

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India is prepared to trade in rupees with nations that are experiencing currency crises: Commerce Secretary

Sunil Barthwal, India’s secretary of commerce, stated on Friday that his country is willing to conduct business in dollars with nations who are having problems with their currencies or are short of dollars. The secretary also stated that the government is concentrating on improving the rupee payment system after the announcement of the Foreign Trade…

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ICRA predicts that the auto components industry would rise by 5-­8% in FY24 as a result of rising domestic demand.

According to a research, the auto parts industry’s sales are expected to climb by 5­8% in FY24, driven by higher domestic demand. With greater premiumization of automobiles, an emphasis on localization, and enhanced export and regulatory standards, the industry is anticipated to reach revenues of over 2.5 lakh crore. The sector’s income increased by more…

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Tata and Reliance acquire solar PLI projects.

The second round of the production-linked incentive (PLI) plan for the solar industry has awarded contracts to up to 11 businesses, including Reliance, ReNew, Indosol, First Solar, Tata Power Solar, and Avaada, for solar photovoltaic (PV) manufacturing projects totaling 39,600 MW capacity. The positive tender response is anticipated to support India’s aspirations to establish a…

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